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It is a win-win. We get rid of waste and we get back something that will help us to fight cancer

Government source

David Cameron is due to make the announcement today in Washington at the fourth biennial Nuclear Security summit, first held in 2010.

A Government source said: "The Prime Minister will be announcing a landmark deal that we have agreed with the US and with Euratom (European Atomic Energy Community).

"It is a win-win. We get rid of waste and we get back something that will help us to fight cancer."

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David Cameron and Barack Obama will be among 50 world leaders at the summit today

The Prime Minister is aiming to show it is possible to think differently about how to dispose of nuclear waste.

At the two-day summit, which will be attended by 50 world leaders, Britain and the US will also announce plans to host a joint exercise later this year to test the ability of their governments and nuclear industries to deal with a cyber attack in the civil nuclear sector.

The source said this was not in response to intelligence about a specific threat, but "prudent planning".

Islamic State (ISIS) jihadis were thought to have been planning an attack on a nuclear site in Belgium last week but instead chose to carry out two horrific attacks in Brussels on the airport and a metro station near the European Union headquarters, killing 35 and injuring 300.

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The US has a higher capacity to process and store nuclear waste

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The UK's nuclear waste storage sites, such as Sellafield, are struggling to cope

Britain will also invest more than £10million in improving nuclear security standards worldwide.

It will also launch a scheme to help other countries strengthen their ability to withstand cyber attacks on their nuclear sectors.